The following table presents the classification of stock-based compensation for the periods indicated:


	Three Months Ended April 30,
	2026		2025
	(in thousands)
Stock-based compensation:
Cost of revenue	$	783	$	951
Research and development		13,714		17,585
Selling, general and administrative		7,396		7,594
Total stock-based compensation	$	21,893	$	26,130

As of April 30, 2026, approximately $1.3 million of stock-based compensation expense was accrued in accrued and other current liabilities in the condensed consolidated balance sheets. Total unrecognized compensation cost of unvested awards at April 30, 2026 was approximately $169.6 million and is expected to be recognized over a weighted-average period of 2.45 years.

The following table sets forth the weighted-average assumptions used to estimate the fair value of employee stock purchase plan awards for the periods indicated:


	Three Months Ended April 30,
	2026			2025
Employee stock purchase plan awards:
Volatility		66	%		54	%
Risk-free interest rate		3.72	%		4.29	%
Expected term (years)	0.5			0.5
Dividend yield		0	%		0	%


	Options Outstanding
									Weighted-
							Total Intrinsic		Average
						Weighted-	Value Of		Remaining		Aggregate
				Weighted-		Average	Options		Contractual		Intrinsic
				Average		Grant-date	Exercised		Term		Value
	Shares			Exercise Price		Fair Value	(in thousands)		(in years)		(in thousands)
Outstanding at January 31, 2026		159,912		$	52.48
Exercised		(51,170	)		41.39		$	1,012
Outstanding at April 30, 2026		108,742			57.70					2.59	$	1,642
Exercisable at April 30, 2026		108,742		$	57.70					2.59	$	1,642

The intrinsic value of options outstanding and exercisable is calculated based on the difference between the fair market value of the Company’s ordinary shares on the reporting date and the exercise price. The closing price of the Company’s ordinary shares on April 30, 2026 was $68.80, as reported by The Nasdaq Global Select Market. The intrinsic value of exercised options is calculated based on the difference between the fair market value of the Company’s ordinary shares on the exercise date and the exercise price.

The following table summarizes restricted stock unit activities for the period indicated:


				Weighted-
				Average
				Grant-Date
	Shares			Fair Value
Unvested at January 31, 2026		2,621,997		$	71.46
Granted		663,259			64.00
Vested		(465,859	)		72.53
Forfeited		(58,757	)		68.45
Unvested at April 30, 2026		2,760,640		$	69.55

As of April 30, 2026, the aggregate intrinsic value of unvested restricted stock units was $189.9 million.